What are the terms related to deferral of payment on the funds for the Paycheck Protection Program?

Between February 15, 2020 and ending on June 30, 2020, the Administration (SBA) provides complete payment deferment relief for impacted borrowers with a loan for a period of not less than 6 months and not more than 1 year. This includes the payment of principal, interest, and fees. An impacted borrower is an eligible receipt who was in operation on February 15, 2020 and has an application for covered loan that is approved or pending after the date of enactment.

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